Egypt selects route for Libya-connection

Apr 22, 1997 02:00 AM

Egypt is selecting the route for a pipeline to bring 150,000 barrels a day of Libyan crude to refineries in the Mediterranean city of Alexandria, Egyptian Oil Minister Hamdi el-Banbi said. The pipeline is a long-term strategic objective to ensure supplies of crude as Egypt's own reserves decline, he told. "The first part is to select the routing of this pipeline and this part is about to be finished, then there will be a feasibility study," the minister said.
He likened it to the Suez-Mediterranean pipeline SUMED which carries Gulf crude across land from the Red Sea to an export terminal at Sidi Kreir near Alexandria. "We consider it a very strategic pipeline similar to SUMED, so Egypt will be connected to the West as it is to the Gulf states. Our oil reserves are not very large, so we can get some high-quality crude oil from the Libyan oil fields and refine it and it will go to the Egyptian system," he said. "The Egyptian economy is expanding and a lot of petroleum products are going to be needed," he added.
Egypt has proven crude reserves of about three billion barrels, enough to last only about 10 years at the current production rate of 850,000 barrels a day.

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